Small Capitalization Correlations

Mutual Funds . USA . 
Fund . Small Capitalization Portfolio
SSCCX Fund  USD 0.37  0.01  2.78%   
The current 90-days correlation between Small Capitalization and Global Technology Portfolio is 0.48 (i.e., Very weak diversification). The correlation of Small Capitalization is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Small Capitalization Correlation With Market

Very weak diversification

The correlation between Small Capitalization Portfolio and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Capitalization Portfolio and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Small Capitalization Portfolio. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Small Mutual Fund

  0.98SABAX Salient Alternative BetaPairCorr
  0.98SABIX Aggressive BalancedPairCorr
  0.98SABCX Salient Alternative BetaPairCorr
  0.97SAMAX Moderately AggressivePairCorr
  0.97SAMCX Salient Mlp FundPairCorr
  0.97SAMIX Moderately AggressivePairCorr
  0.99SSCPX Small CapitalizationPairCorr
  0.99SSCYX Small CapitalizationPairCorr
  0.97SBCCX Moderately ConservativePairCorr
  0.62SBHIX Health BiotchnologyPairCorr
  0.89SBMBX Energy Basic MaterialsPairCorr
  0.97SBMCX Moderate BalancedPairCorr
  0.97SBMIX Moderate BalancedPairCorr
  0.96STPAX Technology MunicationsPairCorr
  0.96STPCX Technology MunicationsPairCorr
  0.96STPIX Technology MunicationsPairCorr
  0.96SCAAX Conservative BalancedPairCorr
  0.96SUMCX Conservative BalancedPairCorr
  0.89SEPIX Energy Basic MaterialsPairCorr
  0.89SEPCX Energy Basic MaterialsPairCorr
  0.97SFPCX Financial ServicesPairCorr
  0.97SFPAX Financial ServicesPairCorr
  0.97SFPIX Financial ServicesPairCorr
  0.61SHPAX Health BiotchnologyPairCorr
  0.94SIEYX International EquityPairCorr
  0.94SIECX International EquityPairCorr
  0.94SIEPX International EquityPairCorr
  0.97SLCGX Large CapitalizationPairCorr
  0.97SLCVX Large Cap ValuePairCorr
  0.97SLGCX Large CapitalizationPairCorr
  0.97SLGYX Large CapitalizationPairCorr
  0.96SLVCX Large Cap ValuePairCorr
  0.97SLVYX Large Cap ValuePairCorr
  0.83SMBCX Municipal Bond PortfolioPairCorr
  0.85SMBAX Municipal Bond PortfolioPairCorr
  0.97SMACX Moderately ServativePairCorr
  0.86SMBPX Municipal Bond PortfolioPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Capitalization Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Small Capitalization's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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